The funds will primarily be deployed towards expansion of Mitra’s current facilities, the launch of a new 3000-ton refined flour (maida) plant in October, entry into millet-based and lifestyle product categories (gluten-free, sugar-free, diabetic-friendly flours, and organic spices), as well as strengthening its distribution network across India and new markets in the GCC. Mitra also plans to integrate smart technology to enhance manufacturing and operational efficiency.

Speaking on the funding, Abhishek Kaushik, Founder & CEO, Mitra, said: “This funding is a key pillar in Mitra’s journey as we prepare for our next phase of growth. It will enable us to expand production capacity, launch new health-oriented product lines, and strengthen our presence across India and international markets. Our vision is to make Mitra one of the top 5 FMCG companies in India within the next 2–3 years, with a clear roadmap towards an IPO.”

Raman Sharma, Founder & CEO, Bestvantage Investments, said: “We are delighted to back Mitra in this bridge round. The FMCG sector in India is poised for significant disruption, and Mitra’s ability to blend traditional food preparation methods with modern quality standards makes it a brand with immense potential. Their growth trajectory speaks volumes of the scalability and demand for their products.”

Founded in 2023 with a mission to make health affordable for all, Mitra has disrupted India’s FMCG sector with its unique stone-grinding methodology (‘Chakki Fresh’), which preserves the original essence, freshness, and nutritional value of products. By catering to Tier 2 and Tier 3 markets with premium-quality products at mid-range pricing, the brand has built strong customer loyalty, boasting 92% repeat purchases.

The company has shown exponential growth, scaling revenues from Rs. 11 crore in its first year to Rs. 40 crore in the second year, and is on track to cross Rs. 120+ crore this financial year. With 500+ distributors and 40,000+ retail touchpoints across NCR, Mitra currently holds the No. 2 market position after ITC in its operating segment. The upcoming flour plant alone is expected to increase Mitra’s monthly recurring revenue from Rs. 12 crore to at least Rs. 17 crore by November 2025, with the company already EBITDA positive.

Mitra is gearing up for a Series A round in April 2026 at a targeted valuation of Rs. 500 crore, while continuing to expand its product categories, manufacturing footprint, and geographical presence.

The company has also been recognized for its achievements, with its founder recently awarded Best Emerging Brand and Leader of the Year by Delhi Chief Minister Rekha Gupta.

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The round saw strategic investment from Bestvantage Investments, with participation from Mohit Goyal (ex-CVC Capital) and Abhineet Singh (Al Siraj Holdings), among others.

With the fresh capital, HoB plans to accelerate expansion in Tier-1 Indian cities while also scaling globally. The company has already launched its first international cloud kitchen in Dubai, with new markets in Australia, Japan, the UK, and North America on its roadmap.

Co-founders Mohammed Bhol and Mikhail Shahani said: “This round fuels our ambition to scale from 22 kitchens today to 120–150 outlets over the next three years, targeting revenues of Rs 450–550 crore.”

Raman Sharma, Founder & CEO, Bestvantage Investments, added: “House of Biryan is not just another cloud kitchen, it is a consumer brand with global resonance. Their ability to build loyalty, demonstrate profitability, and execute at scale made this an easy decision for us. We are excited to back them in their journey of taking biryan global.”

Currently, HoB operates 22 kitchens across Mumbai, Delhi, and Dubai, and has served 2.8 million customers across 4.9 million orders, PTI reported.

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